Can you please show me how to do all of this please, thank you Exercise 4 The head office of a life insurance company be
Posted: Wed May 04, 2022 11:57 am
Can you please show me how to do all of this please, thank
you
Exercise 4
The head office of a life insurance company believed that
regional managers should have weekly meetings with their
salespeople, not only to keep them abreast of current market trends
but also to provide them with important facts and figures that
would help them in their sales. Furthermore, the company felt that
these meetings should be used for pep talks. One of the points the
management felt strongly about was the high value of new contact
initiation and follow-up phone calls.
To dramatize the importance of phone calls on prospective
clients and (ultimately) on sales, the company undertook the
following small study. Twenty randomly selected life insurance
salespeople were surveyed to determine the number of weekly calls
they made and the number of policy sales they concluded. The data
(Calls and Sales) are saved in file t8e4. Perform
the following tasks with R.
a) Do you expect Calls and Sales to be
related to each other? If yes, do you expect the relationship
between them to be positive or a negative?
b) Illustrate the data on a scattergram. What does this
plot suggest about the relationship between the two variables?
c) Find the correlation coefficient
between Calls and Sales. What does this coefficient
and the corresponding t-test statistic and p-value tell
you about the relationship between the two variables? Can we rely
on this t-test?
d) Find the least squares regression line that expresses
the number of Sales as a function of the number
of Calls.
e) What do the coefficients tell you?
f) What proportion of the variability in the number of
sales can be attributed to the variability in the number of
calls?
g) Is there enough evidence (with α = 0.05) to
indicate that the larger the number of calls, the larger the number
of sales?
you
Exercise 4
The head office of a life insurance company believed that
regional managers should have weekly meetings with their
salespeople, not only to keep them abreast of current market trends
but also to provide them with important facts and figures that
would help them in their sales. Furthermore, the company felt that
these meetings should be used for pep talks. One of the points the
management felt strongly about was the high value of new contact
initiation and follow-up phone calls.
To dramatize the importance of phone calls on prospective
clients and (ultimately) on sales, the company undertook the
following small study. Twenty randomly selected life insurance
salespeople were surveyed to determine the number of weekly calls
they made and the number of policy sales they concluded. The data
(Calls and Sales) are saved in file t8e4. Perform
the following tasks with R.
a) Do you expect Calls and Sales to be
related to each other? If yes, do you expect the relationship
between them to be positive or a negative?
b) Illustrate the data on a scattergram. What does this
plot suggest about the relationship between the two variables?
c) Find the correlation coefficient
between Calls and Sales. What does this coefficient
and the corresponding t-test statistic and p-value tell
you about the relationship between the two variables? Can we rely
on this t-test?
d) Find the least squares regression line that expresses
the number of Sales as a function of the number
of Calls.
e) What do the coefficients tell you?
f) What proportion of the variability in the number of
sales can be attributed to the variability in the number of
calls?
g) Is there enough evidence (with α = 0.05) to
indicate that the larger the number of calls, the larger the number
of sales?